• US Seed Connect launched Cannabis Crypto Seed Headz NFT
  • Washington launches week-long cannabis tax holiday
  • Medlab clinical makes moves in the Northern Hemisphere with manufacturing deal

Wednesday was 4/20 day – while it’s more of an unofficial weed holiday dedicated to all things marijuana, some people, companies and even US states are taking it in their stride.

Cannabis seed supplier Seed Connect launched its Cannabis Crypto Seed Headz Non-Fungible Token (NFT) collection on the 20th at 4:20pm.

Elon Musk released Tesla’s quarterly earnings report at 4.20pm.

And even the State of Washington DC is getting in on the act, this year launching an official cannabis tax holiday from April 15-24 where medical cannabis products purchased at any of the state’s seven licensed dispensaries will be exempt from the six per cent sales tax.

On our side of the pond, we celebrated 4/20 by illuminating the Opera House and Sydney Harbour Bridge with some scribbled-on-a-school-desk-style cannabis art – but the perpetrators soon after arrested.

Stay safe, Sydney.

 

ASX WEED STOCKS

Code Company Price % Year % Six Months % Month % Week Market Cap
MDC Medlab Clinical Ltd 0.12 -51% -25% 20% 28% $37,639,323.81
CAN Cann Group Ltd 0.415 -20% 26% 66% 17% $141,395,027.63
WFL Wellfully Limited 0.051 -23% -56% -2% 16% $12,989,777.58
EMD Emyria Limited 0.325 67% 35% 0% 8% $89,375,802.43
HGV Hygrovest Limited 0.063 -40% -16% 11% 5% $14,027,193.09
WOA Wide Open Agricultur 0.665 -26% -11% 9% 4% $86,529,446.78
EXL Elixinol Wellness 0.057 -68% -41% 33% 4% $18,027,137.55
ALA Arovella Therapeutic 0.042 -5% -14% 0% 2% $27,463,244.27
EPN Epsilon Healthcare 0.042 -77% -66% -13% 2% $9,130,984.91
EOF Ecofibre Limited 0.435 -60% -48% 12% 1% $151,806,542.73
EN1 Engage:Bdr Limited 0.001 -83% -67% 0% 0% $3,865,578.46
BOD BOD Australia 0.17 -65% -38% 13% 0% $16,931,827.20
LV1 Live Verdure Ltd 0.27 15% -27% -17% 0% $11,353,992.75
SCU Stemcell United Ltd 0.014 -33% 0% 0% 0% $14,696,980.89
ROO Roots Sustainable 0.006 -68% -33% 20% 0% $4,497,796.13
MRG Murray River Grp 0.245 -16% 0% 0% 0% $10,808,210.04
RGI Roto-Gro Intl Ltd 0.011 -79% -63% 0% 0% $3,768,520.77
MXC Mgc Pharmaceuticals 0.022 -64% -58% -8% 0% $62,544,642.39
AVE Avecho Biotech Ltd 0.019 -10% 6% 46% 0% $33,080,625.47
PAL Palla Pharma Ltd 0.295 -35% -11% 0% 0% $47,764,383.09
AC8 Auscann Grp Hlgs Ltd 0.067 -50% -29% 6% 0% $29,516,656.37
EVE EVE Health Group Ltd 0.002 -69% -60% -20% 0% $8,619,617.11
CAU Cronos Australia 0.295 136% 69% -3% -2% $170,693,879.89
LGP Little Green Pharma 0.44 -44% -38% 10% -2% $105,692,935.04
IHL Incannex Healthcare 0.44 47% 22% -34% -3% $550,721,991.37
ECS ECS Botanics Holding 0.027 -45% -29% 0% -4% $30,435,093.34
IRX Inhalerx Limited 0.115 5% 15% 28% -4% $19,373,700.06
DTZ Dotz Nano Ltd 0.345 -1% -25% -1% -4% $149,356,799.36
CPH Creso Pharma Ltd 0.063 -69% -43% 15% -5% $81,666,427.63
AGH Althea Group 0.18 -64% -41% 0% -5% $63,105,579.00
RNO Rhinomed Ltd 0.215 88% -30% 8% -7% $56,896,776.05
NTI Neurotech Intl 0.052 -21% 13% 8% -7% $37,675,752.80
BOT Botanix Pharma Ltd 0.0785 -11% 23% 6% -8% $77,851,365.92
CGB Cann Global Limited 0.033 -82% -67% 32% -8% $8,801,700.94
IDT IDT Australia Ltd 0.16 -52% -72% -9% -9% $38,563,487.52
TSN The Sust Nutri Grp 0.16 -59% -42% 19% -11% $20,503,085.45
ZLDDG Zelira Therapeutics 2.4 -77% -70% -24% -24% $23,451,426.95

Only 10 companies were in the green, with 12 companies flatlining and 15 stocks in the red.

 

Here are the ones with notable news:

MEDLAB CLINICAL (ASX:MDC)

The company has opened up a massive new northern hemisphere trade front, after securing a deal with the former contract manufacturer of its patented probiotic – NRGBiotic, for patients with major depressive disorders.

The three-year trade deal with UK-based Cultech Limited is for NRGBiotic to initially enter the giant UK health pharmacy sector.

There is also the optionality for European and US expansion.

Cultech are specialised probiotic experts and have their own branded line called PRO-VEN Probioticswhich is distributed in the UK by the Boots Pharmacy group, Holland and Barret Health Foods Stores and Discount Super Drug Pharmacies, as well as online.

Under the agreement terms NRGBiotic will be subject to a new name and continue to be manufactured by Cultech exclusively for the PRO-VEN range and its UK distribution channels.

 

CANN GROUP (ASX:CAN)

Cann has reached three significant production milestones recently, including officially commencing cultivation at its facility in Mildura.

Approximately 4,000 cuttings were propagated from the company’s Southern facility and transferred to Mildura for their vegetative growth phase prior to moving into the flowering room. This crop is expected to be harvested in June of this year.

Cann has also completed its first GMP release of dried flower products from its Southern facility in Melbourne, and its Satipharm CBD capsules are now being manufactured at Mildura facility.

 

LITTLE GREEN PHARMA (ASX:LGP)

Little Green Pharma Denmark has nabbed a three-year sales agreement for the supply of white-label cannabis flower products to Deutsche Medizinalcannabis GmbH (Demecan), one of Germany’s largest cannabis distributors.

The company will provide three high-THC strains (>22% THC) for distribution in Germany.

To maintain strain exclusivity and following a ramp-up period of between 6 and 12 months, Demecan is required to purchase at least 450kg per annum of each strain – which represents around $9 million (€6 million) in total revenue per annum for the three strains.

The first two strains are expected to be delivered in Q3CY2022 with the third later in the year.

 

ZELIRA THERAPEUTICS (ASX:ZLD)

The company is set to acquire 100% of the interests in Health House International – an international distributor of medicinal cannabis.

Health House holds an EU GMP licence and also has supply agreements in place with several pharmaceutical grade Good Manufacturing Practice (GMP) certified manufacturers and producers of high-quality medicinal cannabis products.

Zelira says its research team and Health House’s European based Kalapa Clinic are expected to provide an opportunity to materially improve the speed at which the combined company’s proprietary cannabinoid-based formulations and products can obtain clinical validation, while improving the cost of clinical trials